PLI Scheme for Textiles- Recent update

17-Apr-22

Under the Rs 10,683-crore production-linked incentive (PLI) scheme for the garment and textile sector, the central government of India has given its approval for the financial support of 61 companies.

Overview:

To receive benefits under this scheme, sixty-seven companies had applied.
The total investment expected from the 61 approved applicants is Rs 19,077 crore, with a projected turnover of Rs 184,917 crore over a five-year period.
Investment in this sector will help in creating around 2,40,134 jobs.
This PLI scheme is for textile-related products such as Man-made Fibre (MMF) apparel, MMF fabrics, and other technical textiles products.

Aim of this scheme

This PLI scheme will help in boosting the domestic manufacturing of MMFs, technical textiles, and garments. Financial support will be provided by the government under this scheme for a period of five years for manufacturing these products in India. This PLI will help in enhancing the country’s exports and manufacturing capabilities.